When compared to those in poor countries, poor people in the United States receive
A. Far fewer goods and services.
B. About the same amount of goods and services.
C. Somewhat fewer goods and services.
D. Far more goods and services.
Answer: D
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For which product is the income elasticity of demand most likely to be negative?
A. bread B. computer software C. used clothing D. apps for iPads
The quantity of real money demanded is
A) negatively related to the price level. B) positively related to the price level. C) independent of the price level. D) proportional to the price level
Which of the following best illustrates diversification?
a. A company that produces many different products decides to produce fewer. b. After selling stock, corporate management spends funds on projects with greater risks than shareholders had anticipated. c. Instead of holding only the stocks of companies engaged in the banking business, a person decides to hold stock in a number of different companies producing different goods and services. d. A person decides to purchase only stocks that have paid high dividends in the past.
If the multiplier is 6, then the MPC is
a. 0.16. b. 0.83. c. 0.71. d. 0.86.